Bursa Alert
Global Market
News'Top Glove to complete GMP buy in 6 months' (7113)
Page 1 of 1
'Top Glove to complete GMP buy in 6 months' (7113)
by hlk Wed 18 Jul 2012, 19:21
Top Glove Corporation Bhd is expected to complete its acquisition of GMP Medicare Sdn Bhd for RM24 million within six
months, says Maybank IB Research.
The
acquisition of the Melaka-based small latex glove company, which has 11
production lines and a total capacity of 570 million pieces per annum,
would strengthen Top Glove's market share in the latex segment.
"We
think it can pay for the RM24 million acquisition cost of GMP and
absorb the temporary loss of around RM4 million per annum very easily,"
the research house said.
Maybank IB Research said Top Glove was
also expected to revamp GMP's plant with more advanced production lines
and planned to build two plants with 64 production lines.
"We expect Top Glove to turnaround GMP in
the financial year 2014, the earliest," the research house said, adding
that Top Glove's stock forecast remained at RM6.00 per share. -- BERNAMA
months, says Maybank IB Research.
The
acquisition of the Melaka-based small latex glove company, which has 11
production lines and a total capacity of 570 million pieces per annum,
would strengthen Top Glove's market share in the latex segment.
"We
think it can pay for the RM24 million acquisition cost of GMP and
absorb the temporary loss of around RM4 million per annum very easily,"
the research house said.
Maybank IB Research said Top Glove was
also expected to revamp GMP's plant with more advanced production lines
and planned to build two plants with 64 production lines.
"We expect Top Glove to turnaround GMP in
the financial year 2014, the earliest," the research house said, adding
that Top Glove's stock forecast remained at RM6.00 per share. -- BERNAMA
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» RHB ups Top Glove fair value (7113)
» Top Glove wants to source for its own latex (7113)
» CIMB maintains Underperform on Top Glove (7113)
» Hot Stocks Glove counters advance after Top Glove’s firm results
» Hot Stocks Glove makers mixed reaction to US Ebola scare; Top Glove, Supermax buck KLCI decline
» Top Glove wants to source for its own latex (7113)
» CIMB maintains Underperform on Top Glove (7113)
» Hot Stocks Glove counters advance after Top Glove’s firm results
» Hot Stocks Glove makers mixed reaction to US Ebola scare; Top Glove, Supermax buck KLCI decline
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|